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If a is an inferior good and consumer income risesthe demand for a will?
Inferior goodA good for which an INCREASE(decrease) in consumer income will lead to a DECREASE(increase) in demand for that good.Normal GoodA good for which an INCREASE(decrease) in consumer income will lead to a INCREASE(decrease) in demand for that good.
Are consumption and income positively related or are they negatively related?
They are positively, or directly related. An increase in income is associated with an increase in income; a decrease in consumption accompanies a decrease in income.
What is the effect of an increase in consumer income on demand for a good?
They both will increase (or decrease).
Can a persons money wage decrease at the same time their real wage increases?
Yes, a person's money wage can decrease while their real wage increases if the rate of inflation decreases faster than the reduction in their nominal wage. For example, if a worker's nominal wage drops by 2% but the inflation rate falls by 5%, the purchasing power of their earnings—real wage—can increase despite the nominal wage decrease. This situation highlights the distinction between nominal and real wages, where real wages reflect the buying power of income adjusted for inflation.
How will inflation affect the future?
Your cost of living will increase, your real income will decrease.
If a is an inferior good and consumer income risesthe demand for a will?
Inferior goodA good for which an INCREASE(decrease) in consumer income will lead to a DECREASE(increase) in demand for that good.Normal GoodA good for which an INCREASE(decrease) in consumer income will lead to a INCREASE(decrease) in demand for that good.
Are consumption and income positively related or are they negatively related?
They are positively, or directly related. An increase in income is associated with an increase in income; a decrease in consumption accompanies a decrease in income.
What is the effect of an increase in consumer income on demand for a good?
They both will increase (or decrease).
Can a persons money wage decrease at the same time their real wage increases?
Yes, a person's money wage can decrease while their real wage increases if the rate of inflation decreases faster than the reduction in their nominal wage. For example, if a worker's nominal wage drops by 2% but the inflation rate falls by 5%, the purchasing power of their earnings—real wage—can increase despite the nominal wage decrease. This situation highlights the distinction between nominal and real wages, where real wages reflect the buying power of income adjusted for inflation.
Do income taxes increase or decrease your gross pay?
Decrease. The tax is taken OUT of the gross leaving a net.
How will inflation affect the future?
Your cost of living will increase, your real income will decrease.
What terms is defined as increase or decrease in purchasing power brought on by changing in price?
income effect
What is the effect on income when service is rendered on credit?
Income from services rendered account will decrease and debtors account will increase
Will a net income of 95000 increase or decrease retained earnings?
Since increases in retained earnings mostly come from income accumulation, a net income of $95,000 will increase retained earnings.
Which-political party benefits more with income increase?
which political party tends to benifit when incomes increase or decrease
How do you calculate real income using nominal income?
Real income is calculated by adjusting nominal income for inflation to reflect the purchasing power of money. This is done using the formula: Real Income = Nominal Income / (1 + Inflation Rate). By dividing the nominal income by the inflation rate (expressed as a decimal), you can determine how much goods and services that income can actually buy in terms of constant dollars. This adjustment allows for a more accurate comparison of income over time.
An increase in aggregate demand is most likely to be caused by a decrease in?
The tax rates on household income.
